SJW Group (NYSE:SJW) Reaches New 12-Month Low - Here's What Happened

SJW Group (NYSE:SJW - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $51.10 and last traded at $51.30, with a volume of 128602 shares. The stock had previously closed at $53.47.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SJW shares. StockNews.com lowered SJW Group from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th. Wells Fargo & Company decreased their price objective on SJW Group from $63.00 to $61.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 29th. Finally, Bank of America started coverage on shares of SJW Group in a research report on Friday, September 20th. They issued a "neutral" rating and a $65.00 price target for the company.

SJW Group Trading Down 4.6 %

The business has a 50-day moving average of $55.72 and a 200-day moving average of $56.68. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.25. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 3.26 and a beta of 0.62.

SJW Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were issued a $0.40 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.60 dividend on an annualized basis and a yield of 3.14%. SJW Group's dividend payout ratio is currently 57.97%.

Hedge Funds Weigh In On SJW Group

Hedge funds have recently bought and sold shares of the business. Nuance Investments LLC boosted its stake in shares of SJW Group by 17.5% during the 2nd quarter. Nuance Investments LLC now owns 1,565,428 shares of the utilities provider's stock worth $84,877,000 after acquiring an additional 233,601 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of SJW Group by 1.9% in the third quarter. Geode Capital Management LLC now owns 722,734 shares of the utilities provider's stock worth $42,006,000 after buying an additional 13,614 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of SJW Group by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 369,967 shares of the utilities provider's stock worth $21,499,000 after buying an additional 20,646 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of SJW Group by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 339,990 shares of the utilities provider's stock worth $18,434,000 after buying an additional 4,357 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in SJW Group by 29.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 212,299 shares of the utilities provider's stock valued at $12,337,000 after buying an additional 48,200 shares during the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

About SJW Group

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.

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